Best practices on lead conversion

Question

We're currently looking at what qualifies for a lead conversion, and there seem to be two camps.  One is for sales to qualify the lead to ensure there is a need and if so, convert the lead.  The other is to convert even before to have companies we're targetting as opportunities for what we call "parking lot" opportunities, even though the Sales haven't qualified an actual need. What has your experience been and what would you recommend is the best practice when it comes to when to convert a lead?  How do you manage "parking lot" opportunities?

Aaron Crear · Accepted Answer

I think it comes down to how you want to measure the results. You could use conversion rate on the Leads if you're not using the parking lot option. If you do the parking lot option then you can report ton the win rate. I'd be sure to have a required Closed Lost reason to get some more granularity with this.

Minky Hyun · Answer

Thank you Aaron.  You make a good point there.  I'm definitely leaning towards the first option, that is ot convert the lead when the need has been qualified.  I think the win rate can easily be calculated without going with the parking lot option.  We already have some fields where we collect Closed Lost reason so we're good there.  Many thanks again!

Best practices on lead conversion

Sales And Marketing

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